When taking out a mortgage for the purpose of buying a property to rent out, there are buy to let fees that will have to be taken into consideration. With our expert help, you can get a great mortgage deal that will put you in a strong position to either start or expand your property portfolio. The rates you will have to pay often depend upon several factors, including how much you are willing to pay in arrangement fees. It is a good idea to get an expert to go through the numbers with you and make sure you are getting the right mortgage with the right buy to let fees.
Buy to let mortgage arrangement fees
The size of your buy to let mortgage arrangement fees will depend upon the lender that you choose. Arrangement fees have been on the rise recently, but that can be good news. Some lenders will offer you lower rates of interest on your premiums if you pay a higher arrangement fee upfront. You can spread the cost, but this still makes the actual upfront cost of your mortgage high, although it has the advantage of keeping your monthly costs down. This decreases the minimum amount of rent you have to charge, or allows you to make more profit on top of your rental income after mortgage repayments.
Buy to let mortgage no fees
Sometimes it is possible for you to get a buy to let mortgage with no fees. This is very useful for minimizing your costs upfront. A buy to let mortgage with no fees will have a higher rate of interest on your premiums. It is worth getting an expert to look through the market for you, as mortgages with no fees are not always available.